Top 10 tips for passing the PCIAM

Consultancy and Training Partners’ retail director Philippa Grocott and consultant Ian Richardson, a qualifications specialist, share their top 10 tips for passing the PCIAM.

1) The Chartered Institute for Securities & Investment (CISI) recommended study time for this exam is 200 hours. Break the task into manageable chunks, work out how many weeks remain before the exam and how you will achieve the required number of hours. Little and often is far more productive than seven-hour stints at the weekend with nothing in between.

2) Unless you are fortunate enough to have 200 free hours at your disposal, you are likely to need support and understanding from your colleagues, family and friends in order to achieve your objective of passing PCIAM. Let them know what you are doing, how important this is to you and how they can help you.

3) The syllabus and suggested reading list is extensive but don’t be overawed, help is at hand. In addition to help provided by the CISI, there is a small number of accredited training providers that can offer a stimulating mix of proven training solutions.

4) Have you ever read a chapter of a textbook and then struggled to recall what it said? It could be that, like the majority of candidates, your brain needs stimulating in a different way to recall complex technical information in an exam environment. Try some of these techniques:

i) Undertake multiple choice questions in order to test your understanding. Think of how the information studied applies to one of your actual clients or a fictitious one if necessary;

ii) Use mind maps to show the subject matter and the key learning points. Many candidates find it far easier to recall the mind map they have previously drawn than the text book they have read over and over again.

5) This is a very practical exam and you will be required to demonstrate up-to-date knowledge and the ability to apply that knowledge appropriately. The CISI publishes a recommended reading list that includes periodicals as well as textbooks.

6) Use the previous examination papers on the CISI website as practice papers in the run up to the exam.

7) Spend the first five minutes of the exam reading the questions thoroughly and decide on your strategy for tackling the paper. You should give yourself 68 minutes for section A, 34 minutes for section B and 68 minutes for section C. We would normally recommend you do section A first, then section C and finally section B. Leave yourself five minutes at the end to review your answers and find some extra marks where you can.